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To: haqihana who wrote (5136)11/22/2006 10:38:52 AM
From: TimF  Read Replies (1) of 6901
 
Some people get annoyed at my habit of occasionally responding to really old posts that I stumble in to. Hopefully your not one of them.

Your statement - "If you pay FICA, that is entered in your name, and is not supposed to be used for anyone but you." Isn't true.

FICA taxes are in many ways like any other tax. The only think special about them is that they are tied in to the social security and medicare systems as a whole (not to specific individual accounts). The amount you get out is computed by a formula that includes how much you pay in as an important input, but the money isn't kept in some separate account for you that can only go to you. Some people get a lot more out then they put in, others a lot less.
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